Meta Platforms, Inc. is an American technology conglomerate based in Menlo Park, California, best known for operating Facebook, Instagram, WhatsApp, Messenger, and Threads, and for its investments in virtual and augmented reality through Oculus (Reality Labs). The company reports two segments—Family of Apps and Reality Labs—and derives most revenue from advertising across its social platforms. According to Meta’s Q2 2025 investor release, total revenue reached $47.52 billion, Family of Apps revenue was $47.15 billion, and Reality Labs revenue was $370 million with an operating loss of $4.53 billion; Family Daily Active People averaged 3.48 billion in June 2025. Meta Investor Relations,
Nasdaq.
History
- –Origins and IPO: The company was founded in February 2004 at Harvard University by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. It went public on May 18, 2012, at $38 per share, raising about $16 billion.
CNNMoney,
CNBC.
- –Major acquisitions: Meta acquired Instagram in 2012 for about $1 billion; WhatsApp in 2014 for an announced $16 billion plus $3 billion in restricted stock; and Oculus VR in 2014 for roughly $2 billion.
Wired,
Meta Newsroom.
- –Rebrand: On October 28, 2021, Facebook, Inc. changed its corporate name to Meta Platforms to reflect a strategic emphasis on building the “metaverse” and on longer‑term AR/VR initiatives.
TIME.
- –“Year of Efficiency” and restructuring: In 2022–2023 the company reduced headcount, including plans announced in March 2023 to eliminate about 10,000 roles and close 5,000 open positions.
- –Capital returns: Meta initiated a quarterly dividend of $0.50 per share announced on February 1, 2024, and increased it to $0.525 per share for Q1 2025.
PR Newswire.
Products and services
- –Family of Apps: Meta’s core platforms include Facebook, Instagram, WhatsApp, Messenger, and Threads. Threads launched in July 2023 and surpassed 100 million sign-ups within five days; Meta reported Family Daily Active People of 3.48 billion in June 2025.
Meta Investor Relations.
- –Advertising: The business is primarily advertising‑supported. In Q2 2025 Meta reported an 11% year‑over‑year increase in ad impressions and a 9% increase in average price per ad.
- –Reality Labs hardware and software: Reality Labs develops the Quest line of mixed‑reality headsets and Ray‑Ban Meta smart glasses with EssilorLuxottica. Quest 3 was announced in September 2023 with a starting price of $499, and Quest 3S followed in 2024 as a lower‑cost model.
TechCrunch. Ray‑Ban Meta glasses added multimodal Meta AI features and live translation functions in 2024–2025.
The Verge.
Artificial intelligence
- –Llama models and Meta AI: In April 2024 Meta released early Llama 3 models and rolled out the Meta AI assistant across its apps and on the web; in July 2024 Meta announced Llama 3.1 with a 405B‑parameter model.
Reuters,
The Guardian. In April 2025 Meta introduced the first Llama 4 models (Scout and Maverick) and previewed the larger Behemoth model.
- –AI in hardware: Meta has integrated Meta AI into Ray‑Ban Meta glasses and previewed Orion AR glasses prototypes at Connect 2024.
Corporate structure and leadership
- –Segments: Meta reports results for Family of Apps (Facebook, Instagram, Messenger, WhatsApp, and other services) and Reality Labs (VR/AR hardware, software, and content).
- –Headquarters: The company’s principal executive offices are in Menlo Park, California.
SEC 2025 Proxy Statement.
- –Key executives and board: Mark Zuckerberg is chairman and CEO; Javier Oliván (COO), Susan Li (CFO), and Andrew Bosworth (CTO) are among named executive officers; Meta added Dina Powell McCormick and Patrick Collison to its board effective April 15, 2025.
Regulation and legal matters
- –U.S. privacy order and penalty: In July 2019, the U.S. Federal Trade Commission announced a $5 billion penalty and a modified 20‑year privacy order against Facebook, imposing board‑level oversight and executive certifications.
FTC,
- –FTC antitrust case: The FTC’s lawsuit filed in 2020 alleging unlawful monopolization in personal social networking proceeded toward trial in 2025.
- –EU GDPR enforcement: In May 2023 the Irish Data Protection Commission, following a binding EDPB decision, fined Meta €1.2 billion over EU‑U.S. data transfers and ordered remedial measures.
EDPB,
Data Protection Commission (Ireland),
- –EU digital regulation: The European Commission has scrutinized Meta’s “pay‑or‑consent” model for ad‑free subscriptions under the Digital Markets Act; Meta has stated that it believes its approach complies, while investigations have continued in 2024–2025.
- –UK merger remedy: Following a UK Competition and Markets Authority order, Meta divested Giphy to Shutterstock in 2023 for $53 million.
Hardware and immersive computing
- –Quest line: Quest 3 launched in October 2023 at $499 with significant mixed‑reality upgrades; Meta later introduced the lower‑priced Quest 3S in 2024.
- –Smart glasses: Ray‑Ban Meta smart glasses, developed with EssilorLuxottica, added hands‑free livestreaming, “Hey Meta” voice control, and multimodal AI features, with broader roll‑outs in 2024–2025.
Financial profile
- –Quarterly performance and metrics for Q2 2025 included $47.52 billion in revenue, operating income of $20.44 billion, an 11% effective ad impression increase, and 3.48 billion Family Daily Active People; headcount was 75,945 at June 30, 2025.